Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1887-12-18
FRIGHTENING SKIES.
A xHw DEBT CONFERENCE PROPOSED
By Nh. RoyALL.
q Good Prospect that a settlement Can be
Reached-srmistioe Likely TO be
agreed Upon for q Month.

tht 1lutnCt &OluUlttctS VI tnc tWO
houses OF the General Assembly met at
the Allen house, ut the northeast corner
OF Broad and Twelfth streets, at 10
o'clock yesterday morning to hear MIR.
Royals views as TO the present status of
Che debt question.
The Allen bouse is q fine, old-fash.
toned. red-brick residence, which is
rented by the State for offices for the
Superintendentsei Public Instruction ;
and as there is little or no accommoda-
ton at the Capitol for the committees,
several OF them ere glad to find shelter
under DT. Buchanan's hgpitable though
official roof.
"REMINISCENCES.
Here, in March OF this year. the
Thornton BraithwGite Debt Commission
met in great secrecy, only to find that all
their proceedings of value were early
found out by the reporters and the bro
kers The debt commission met in the
double parlors on the west side OF the
hall way and had elegantly furnished
Quarters. The Fnlnce Committees
were less comfortably provided for yes
terday They had but one room--that
uncarpctcd and that on the third floor,
Of the northwest corner. The attend
snce OF members was good, despite the
fact that cold rain was coming down
aud "A sharp wind was blowing. One by
one The dripping and shivering statesmen
came in, set down their umbrellas, threw
their overcoats upon the chairs, and
backed MP to the fire which burned
brightly in the open CRATE. MIR. Royal
was present early, and was soon chatting
with the members with great vlvacity.
MIR. Koncr. the senator from Augusta,
took the chair, being chairman OF the
Senate committee.
of, THE REPORTERS.
The first great question raised to rack
the brains of the wise men assembled
was as TO whether the reporters OF the
daily press should be allowed to be
present. After considerable cOnlernng
the one reporter present was informed
that he was excused from duty, which
meant that he could--must get ont as
soon as possible He retired in fine
order. Later another newspaper-man
came in, and being wholly unconscious
of the above episode, Installed himself
in chair, and was giving profound at
tention TO the remarks being made by
Colonel William G. Elan, of Louisa,
when Mr. Royal. acting In the capacity
of friend, and not as the representa-
tive of the British bOndholders, good
naturedly informed him of the order of
the committee and allowed the news
a., xxffIAr1t hafnf
vited ont. Mr.. Royal, however, was
perfectly willing. for his part, that all
the reporters should be there.
MR.. RoYALL WANTS TO GO TO ENGLAND.
The session of the committees over,
members of the committees filed into
the legislative halls about 1910 p. NJ,
and IL soon became known TO all who
cared TO inquire that Nj. Royal had
asked for the suspension OF "the cou-
pon-crusher until he could go to Eng
land, see his clients, give them his views,
and return here Meantime he proposed
an armistice-lhat is, that the Leglsla-
ture should pass a resolution suspending
the operations of "the coupon-crusher.
On his part he would issue circular and
have, as far as he could control, all tax
paving in coupons stopped amt all cou-
pom litigation suspended. To tins end
lie proposed truce for sixty days. Gen
eral Wickham said that thirty days would
be abundant time that would give Mr..
Royal ten days to go, ten days to stay,
ten DAYS to return.
Mir. Royal finally agreed that thirty
days would do He wished more time,
but would satisfy himself with a month.
HIS OFFER.
OF the exact terms of Mr.. Royals
offer no two members were agreed when
the conference was over but substan-
tally it was what Mr.. Royal considered
as the fair equivalent of the Riddle
berger bill as 1t stood when adopted by
the Democratic party.
Mr.. Royal said that his clients had
always adopted his advice and doubtless
would in this case; that II, after eX
planning his views to them, they refused
to settle on the basis which he had i'll
mind. then he would resign his position
as bondholders counsel.
Mr. Royal never once admitted that
the bondholders are at the end of their
resources at Law. On the contrary, he
pointed out methods that would, he
claimed, enable the creditors TO keep up
their fight for years; but he wanted
them TO settle. and ii he could see them
he believed he could prevail upon them
10 accept terms which the State could
offer. He said emphatically that 1t was
not to be thought of for moment that
the creditors would enter into negotla-
tons for settlement while the State is
threatening them with executions under
1.-THE coupon crusher" In payment of
all such executions they could tender IN
payment coupons.
Mr.. Royal expressly and emphaticaily
denied that he had any fee contingent
mon settlement. On the contrary. he
said that he was in receipt o! very
liberal monthly payment, which wonld
close when the debt WAS settled. For all
that he wished the debt settled, and he
felt sure it could be done.
COMMITTEE SENTIMENT.
The largely predominant sentiment OF
Che committee WAS that If MIR. Royal
vonld undertake this mission 10 England
be ought 10 he afforded the desired IA
ciity 10 DO so, with the understanding,
however, that the immoyable aud un-
changcable determination of the people
OF Virginia is 20 adhere to the Riddle
berger bill, and that /, is vain and useless
10 propose 10 reopen any question that
is detrimental 70 that bill.
4 SUBCOMMITTEE.
The committee after a long discussion
resolved TO appoint sub committee Of
two senators and three delegates to re-
tort TO them tomorrow morning such a
plan OF action as will probably meet the
demands of the case Messrs. Koiner.
Wickham, Buiord. w. A. Anderson, and
Fiegat were appointed.
rhe report will be presented to the
two committees tomorrow morning.
tuesday thu two houses vote for senator
Wednesday the joint session will he held,
aud the general desire is 70 adjourn on
Thursday for the holidays So that 20
be adopted without any delay the COM